Indian markets are likely to open positive tracking global indices and SGX Nifty.

The US stocks showed a lack of direction over the course of the trading day on Friday extending the lackluster performance seen in the previous session. The major averages spent the day bouncing back and forth across the unchanged line. The Dow inched up 0.1 percent to 27931 while the Nasdaq dipped 0.2 percent to 11019.

UK stocks fell sharply on Friday with travelrelated stocks pacing the decliners after Britain said it has no choice but to impose a 14day quarantine on all travelers arriving from France due to rising coronavirus infection rates there. The FTSE 100 fell by 2.1 percent to 6057.

On domestic front Indian shares gave up early gains to end lower on Friday with ratesensitive bank auto and financial services firms declining after data showed Indias retail inflation inched close to the 7 percent mark in July. The benchmark BSE Sensex was down by 1.1 percent to 37877.

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